The Financial Crimes Enforcement Network issued a final rule establishing a beneficial ownership information reporting requirement. The rule will require most U.S. corporations, limited liability companies, and other entities to report to FinCEN information about their beneficial owners—those who ultimately own or control the company. The rule enacts provisions of the Corporate Transparency Act—passed as part of the Anti-Money Laundering Act—to strengthen national security and the integrity and transparency of the U.S. financial system.
Read this and more about the Beneficial Ownership rules here.